Flex Space With Fenced
For Sale
$425,000
Pending
5601 Jensen St, New Orleans, LA 70123
Vacant commercial property combines private offices, warehouse capacity, parking, and a secured outdoor work area.
Property Size3,626 SF
Days on Market22
Property Features for 5601 Jensen St
General Information
Standard status
Pending
Size
3,626 SF
Listing Agency:
FQR Realtors
(504) 782-6883
Listed By:
Eric Wilkinson · License #995700355
(504) 782-6883
Source:
Exprealty
Added: Jul 20
Changed: Aug 9
Last Checked: Aug 9 at 9:02AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of FQR Realtors
Investment Insights
Based on property information with market context.
This 3,626-square-foot flex property at 5601 Jensen St combines office and warehouse functions within a practical commercial layout. The 40' x 75' warehouse includes a 14-foot roll-up overhead door, while the office portion provides multiple private offices, reception space, a boardroom, kitchen, storage, and central air and heat. The building is vacant and configured for immediate occupancy.
Set on a 60' x 175' lot in New Orleans, the property includes four dedicated parking spaces at the front, additional parking along the side driveway and rear yard, and a fenced rear area. Light Industrial zoning supports the existing office/warehouse configuration and the property’s stated suitability for contractor, service, distribution, fabrication, storage, and related commercial operations.
Set on a 60' x 175' lot in New Orleans, the property includes four dedicated parking spaces at the front, additional parking along the side driveway and rear yard, and a fenced rear area. Light Industrial zoning supports the existing office/warehouse configuration and the property’s stated suitability for contractor, service, distribution, fabrication, storage, and related commercial operations.
Key Highlights
- 3,626 SF flex property on a 60' x 175' lot
- 40' x 75' warehouse with a 14‑foot roll‑up overhead door
- Office layout includes private offices, reception, boardroom, kitchen, and storage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,255
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$585,100
$585.1K
Cap Rate 7%
$417,929
$417.9K
Cap Rate 9%
$325,056
$325.1K
Market Conditions
NOI Build-Up for 3,626 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$36.1K $9.96/SF
− Vacancy
−$1.7K −$0.47/SF
EGI
$34.4K $9.49/SF
− OpEx
−$5.2K −$1.42/SF
NOI
$29.3K $8.07/SF
Area
ZIP 70123
Vacancy
4.70%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$585,100
Cap Rate 7%
$417,929
Cap Rate 9%
$325,056
Alternative Uses
Best Use
Office B
$720.9K
$630.8K – $841.1K
NOI $50,464 @ 7.0% cap · market cap 11.87%
Second Best
Flex RnD
$569.7K
$498.5K – $664.7K
NOI $39,879 @ 7.0% cap · market cap 9.38%
Theoretical Best
Office A
$930.2K
$813.9K – $1.09M
NOI $65,113 @ 7.0% cap · market cap 15.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,581
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70123, LA
27,346
Population
14,297
Households
1.9
Avg Household Size
44
Median Age
44%
College-Educated
94%
High-School Grad
7.6 sq mi
ZIP Area
3,598
Density / Sq Mi
$82,639
Median Household Income
$52,709
Median Earnings
$1,310
Median Rent
$318,000
Median Home Value
Market
Vacancy Rate% for Office in New Orleans, LA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Moore Venue — 5616 Citrus Blvd, New Orleans, LA 70123
- 12 Seasons Catering & Events — 5616 Citrus Blvd, New Orleans, LA 70123
- American Roadshow Catering — 1205 N Al Davis Rd, New Orleans, LA 70123
- la Madeleine — 1200 S Clearview Pkwy Suite 1314, Harahan, LA 70123
Frequently Asked Questions
What type of property is this?
Flex space - Vacant commercial property combines private offices, warehouse capacity, parking, and a secured outdoor work area.
Where is this flex space located?
The property is located at 5601 Jensen St New Orleans, LA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 3,626 SF flex property on a 60' x 175' lot; 40' x 75' warehouse with a 14‑foot roll‑up overhead door; Office layout includes private offices, reception, boardroom, kitchen, and storage
